INSTA PT 2020 EXCLUSIVE ECONOMY – PART 2 February 2020 – July 2020 INSTA PT 2020 EXCLUSIVE (ECONOMY-PART 2) NOTES Table of Contents Schemes / Government Initiatives ................................................................................ 3 1. VIVAD SE VISHWAS SCHEME ................................................................................................... 3 2. ATMANIRBHAR BHARAT ABHIYAN........................................................................................... 3 3. PRADHAN MANTRI STREET VENDOR’S ATMANIRBHAR NIDHI SCHEME .................................... 4 4. CREDIT GUARANTEE SCHEME FOR SUB-ORDINATE DEBT (CGSSD) ........................................... 5 5. COUNTRY OF ORIGIN IN GEM PLATFORM ............................................................................... 5 6. SATYABHAMA PORTAL ............................................................................................................ 5 7. ATMANIRBHAR BHARAT APP INNOVATION CHALLENGE .......................................................... 6 8. ASEEM PORTAL ...................................................................................................................... 6 9. SPECIAL LIQUIDITY SCHEME FOR NBFCS AND HFCS ................................................................. 6 10. AGRICULTURE INFRASTRUCTURE FUND .............................................................................. 6 11. WHAT IS FINANCE COMMISSION GRANTS & OTHER TRANSFERS? ........................................ 7 12. INSOLVENCY AND BANKRUPTCY CODE (IBC) ........................................................................ 8 13. PRE-PACKS UNDER THE PRESENT INSOLVENCY REGIME ...................................................... 9 14. CONSOLIDATED NOTIFICATION ON MSME CLASSIFICATION AND REGISTRATION ............... 10 15. CHAMPIONS: TECHNOLOGY PLATFORM TO EMPOWER MSMES ........................................ 10 16. LABOUR MINISTRY NOTIFIES DRAFT ON MINIMUM WAGES .............................................. 10 Banking Sector / Financial Sector ................................................................................ 12 1. MONETARY POLICY COMMITTEE (MPC) ................................................................................ 12 2. DIVIDEND DISTRIBUTION TAX ............................................................................................... 13 3. COOPERATIVE BANKS UNDER RBI ......................................................................................... 13 4. WHAT IS CRR OR CASH RESERVE RATIO? ............................................................................... 14 5. MARGINAL COST OF FUND-BASED LENDING RATE (MCLR) .................................................... 14 6. LONG-TERM REPO OPERATIONS (LTROS) .............................................................................. 15 7. HELICOPTER MONEY ............................................................................................................ 15 8. ADDITIONAL TIER-1 BONDS .................................................................................................. 16 9. OPERATION TWIST ............................................................................................................... 17 10. BUSINESS CORRESPONDENTS ........................................................................................... 17 11. INPUT TAX CREDIT ............................................................................................................ 18 12. RBI RELEASES NEW GUIDELINES FOR PAYMENT AGGREGATORS ........................................ 18 13. ‘FULLY ACCESSIBLE ROUTE’ (FAR) ...................................................................................... 19 14. VOLUNTARY RETENTION ROUTE FOR FOREIGN PORTFOLIO INVESTORS ............................. 20 15. COUNTERCYCLICAL CAPITAL BUFFERS (CCYB) .................................................................... 20 16. RECAPITALISATION OF RRBS ............................................................................................. 21 17. SWAP RATIO ..................................................................................................................... 21 18. DEARNESS ALLOWANCE .................................................................................................... 21 19. BULL AND BEAR MARKETS ................................................................................................ 21 20. BLUE CHIP STOCKS ............................................................................................................ 22 21. CIRCUIT BREAKER IN STOCK MARKET ................................................................................ 22 22. EXCISE DUTY ..................................................................................................................... 22 23. WAYS AND MEANS ADVANCES.......................................................................................... 23 24. PAYMENTS INFRASTRUCTURE DEVELOPMENT FUND (PIDF) .............................................. 24 25. RIGHTS ISSUE ................................................................................................................... 24 External Sector ........................................................................................................... 25 1. KURZARBEIT SCHEME ........................................................................................................... 25 2. GOVERNMENT AMENDS THE EXTANT FDI POLICY ................................................................. 25 3. WHO ARE THE DEVELOPING COUNTRIES IN THE WTO? ......................................................... 25 4. SPECIAL DRAWING RIGHTS (SDR) .......................................................................................... 26 www.insightsonindia.com 1 InsightsIAS INSTA PT 2020 EXCLUSIVE (ECONOMY-PART 2) NOTES 5. FOREX RESERVES .................................................................................................................. 27 6. INTERNATIONAL COMPARISON PROGRAM ........................................................................... 28 7. FOREIGN CONTRIBUTION (REGULATION) ACT (FCRA), 2010 .................................................. 28 Reports / Ranking / Committees / Awards / Events ..................................................... 31 1. WORLD BANK REPORT ON REMITTANCES ............................................................................. 31 2. OPEN BUDGET SURVEY ......................................................................................................... 31 3. PERIODIC LABOUR FORCE SURVEY (PLFS) .............................................................................. 31 4. WHY MOODY’S DOWNGRADED INDIA’S RATING? ................................................................. 32 5. STATE OF FOOD SECURITY AND NUTRITION IN THE WORLD 2020 (SOFI 2020) ....................... 32 Departments / Agencies ............................................................................................. 34 1. DIRECTORATE GENERAL OF FOREIGN TRADE (DGFT) ............................................................. 34 2. NATIONAL COMPANY LAW APPELLATE TRIBUNAL (NCLAT) .................................................... 34 3. HOUSING FINANCE COMPANIES ........................................................................................... 34 4. NATIONAL PRODUCTIVITY COUNCIL (NPC) ............................................................................ 34 5. PETROLEUM AND NATURAL GAS REGULATORY BOARD (PNGRB) ........................................... 35 Miscellaneous............................................................................................................. 36 1. VADHAVAN PORT AND LANDLORD MODEL ........................................................................... 36 2. SHARED ECONOMY .............................................................................................................. 36 3. INDIA’S COAL IMPORTS RISE ................................................................................................. 36 4. WHY OIL PRICES FELL BELOW ZERO? ..................................................................................... 36 5. SHAPES OF ECONOMIC RECOVERY ........................................................................................ 38 6. NATION’S TOP WHEAT CONTRIBUTOR .................................................................................. 39 7. COMPULSORY LICENSING ..................................................................................................... 39 8. NON- PERSONAL DATA ......................................................................................................... 39 www.insightsonindia.com 2 InsightsIAS INSTA PT 2020 EXCLUSIVE (ECONOMY-PART 2) NOTES Schemes / Government Initiatives 1. Vivad Se Vishwas Scheme • Vivad se Vishwas scheme is a direct tax scheme announced in Budget 2020, for settling tax disputes between individuals and the income tax department. • Earlier, the scheme offered complete waiver on interest and penalty to the taxpayers with a full and final settlement of the dispute if the scheme was availed by March 31, 2020. An individual opting for settlement after March 31, 2020 was required to pay additional 10 per cent penalty on the disputed tax amount. However, now till December 31, 2020, you do not have to pay any penalty. • As per the scheme income tax disputes settled under it cannot be reopened in any other proceeding by the income tax department or any other designated